News Archive

The Budget Responsibility Bill

The Government has introduced to Parliament the Budget Responsibility Bill and published a draft update to related provisions of the Charter for Budget Responsibility.   The Bill would amend the 2011 Budget Responsibility and National Audit Act and require any fiscally significant measures announced by the Government to be accompanied by an independent assessment by the OBR, except in certain circumstances.  

Falling Inflation For Food And Clothing

Responding to the latest CPI inflation figures, which show headline inflation remaining at 2.0% and food inflation falling 0.2 percentage points to 1.5%, Kris Hamer, Director of Insight of the British Retail Consortium, said: "While headline inflation remained at 2.0%, households will benefit from falling inflation rates in retail, with Food and Clothing & Footwear both dropping compared to last month.  Falling energy prices and a stronger pound combined with fierce competition between retailers are helping to bring down prices for many goods, including essential items like pasta and margarine.  

IFS Response To New Government's Fiscal Lock

Ben Zaranko, Senior Research Economist at the Institute for Fiscal Studies said, "The new government's ‘fiscal lock’ is broadly sensible but largely performative.  It is, in effect, a rather theatrical way of promising not to do another Mini Budget - or at least not to do another Mini Budget without some accompanying independent analysis from the Office for Budget Responsibility.  

Prime Minister To Host President Zelenksyy At Downing Street As Uk Spearheads Crack Down On Russia's 'shadow Fleet'

President Zelenskyy will be hosted by the Prime Minister at an extraordinary meeting of the Cabinet tomorrow morning.   President Zelenskyy will be hosted by the Prime Minister at an extraordinary meeting of the Cabinet tomorrow morning, as the UK spearheads a major initiative to crack down on Russia's ‘shadow fleet’.  

Contract Awarded For Next Stage Of Development At European Marine Science Park

The project is expected to continue to attract innovative marine businesses, creating new well-paid job opportunities, particularly for young people, and encouraging entrepreneurship.   A new £8.1m facility is to be built in Argyll to help meet increasing demand for offices and laboratory facilities from companies in the growing marine science sector.  

Competition And Markets Authority Secures Over £4 Million In Refunds For Wowcher Customers

Following CMA action, Wowcher will change the way it promotes products and services to customers - as well as providing over £4 million in refunds.   Wowcher to change its sales practices to avoid potentially misleading or unfairly pressuring consumers into making quick purchases.  

Scottish Secretary Responds To The King's Speech - Banning Zero Hours Contracts and Much More

Speaking after the King's Speech, Scottish Secretary Ian Murray said, "This is a King’s Speech which will deliver the change our country needs.  It will deliver for all four nations of the UK and all four corners of Scotland.  

Security At The Heart Of Uks Reset With Europe - Pm To Tell World Leaders As He Pledges Closer Cooperation To Dismantle European Smuggling Rings And Bring Order To British Borders

Border Security will be at the heart of the Government's reset with Europe, the Prime Minister will tell world leaders at a major European summit on Thursday 18 July 2024.   The Prime Minister is set to tell the meeting of the European Political Community that he believes the magnitude of compounding challenges facing Europe cannot be solved alone, and that countries must work collectively to deliver solutions that rebalance the equation.  

Oxford University Press publishes the IFS Deaton Review of Inequalities

Oxford University Press has today published the IFS Deaton Review of Inequalities in a special edition of its journal Oxford Open Economics.   The multi-year IFS Deaton Review of Inequalities, launched in 2019 and funded by the Nuffield Foundation, is a rich and comprehensive treatment of this complex, multifaceted and important topic, involving many of the top academic minds from across the world.  

Economic Growth Is Rightly At The Heart Of New Government's Legislative Programme - But Tough Decisions Lie Ahead On Reforms To The Workplace, Housing Market And Electricity Grid

Boosting economic growth rightly lies at the heart of the new Government's legislative agenda, with at least a dozen of the 40 Bills announced in the King’s Speech centred around that welcome objective.  But bold ambition must be matched with careful implementation if the Government is to deliver its economic reform agenda successfully, the Resolution Foundation said.